Carnival shares plummet as rescue continues

THE capsizing of the Costa Concordia cruise liner has wiped £700m off the value of Carnival, the ship’s owner, with shares in the FTSE 100 firm shedding 16.4 per cent yesterday.

Six people have died so far in the accident off the Italian coast while another 29 remain unaccounted for.

Analysts predict the total insurance bill could reach £653m, one of the highest in maritime history, and the industry has been advised to expect a “horrid” year as the publicity hits sales.

The captain of the ship has been charged with manslaughter amid claims that he sailed dangerously close to the shore in order to impress locals on a nearby island.